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FLC
In the News
FLC: Deep Discount And Better Outlook Lead To Opportunity
Flaherty & Crumrine Total Return Fund has been negatively impacted by Fed rate hikes, causing borrowing costs to explode higher, while their portfolio was also hit by higher rates. FLC recently raised its distribution, and that provides a glimmer of hope that stabilization is taking place. The fund has a potentially brighter future moving forward, and the large discount present could be a further opportunity.
5 Closed-End Fund Buys In The Month Of January 2024 (Includes 2 Swaps)
5 Closed-End Fund Buys In The Month Of January 2024 (Includes 2 Swaps)
CEF Weekly Review: Take Care With Total NAV Returns
We review CEF market valuation and performance through the fourth week of January and highlight recent market action. All sectors were up for the week, with MLPs and Preferreds leading the way. Investors should be wary in taking CEF total NAV returns at face value given various conventions and data issues.
FLC: This Fund May Not Be Able To Sustain Its Recent Gains (Rating Downgrade)
Flaherty & Crumrine Total Return Fund has suffered from multiple distribution cuts, resulting in a low forward yield of 6.81%. The FLC closed-end fund's share price has increased by 9.53% since the last article, outperforming the preferred stock index and bond index. The fund's exposure to the banking sector has increased, and its leverage remains high, posing risks for investors.
FLC: Higher Rates Continue To Pressure Preferreds But Discount Offers Potential
Flaherty & Crumrine Total Return Fund has continued to face significant pressure from rising rates. FLC's share price has also been significantly impacted due to the fund's discount widening dramatically.
FLC: High-Risk, High-Reward Yield Play With This Preferred Stock CEF
The Flaherty & Crumrine Total Return Fund is a fixed-income fund that primarily invests in preferred stock. The fund has experienced disappointing performance due to rising interest rates, but its high current yield is attractive. FLC's leverage and distribution cuts may be concerning, but its current discount on net asset value makes it a reasonable investment option.
CEF Report August 2023: Taxables Get Bought And Are Not Very Compelling, Munis Look Best
Taxable closed-end fund discounts have narrowed, reducing their attractiveness, while credit spreads have tightened, producing returns in some areas of the CEF market. Municipal CEFs remain exceptionally cheap, with discounts wider than 99% of historical observations. The risk-reward in the taxable bond CEF space is on the downside, while the upside potential in municipal CEFs is significant, but dependent on a shift in Fed policy and inflation.
The Chemist's Quality Closed-End Fund Report, August 2023
Quantitative screens narrow down attractive closed-end funds for further investigation. "Quality" report focuses on funds with >100% distribution coverage to lower the risk of distribution cuts. Top lists provide shortlists for further research, not final buy or sell decisions.
PFD Vs. FLC: Outlook For Preferred CEFs
We had suggested a trade for these two preferred CEFs from Flaherty and Crumrine. We examine where that stands today and update that recommendation.
FLC: Regional Banking Crisis Exerts More Downward Pressure
Flaherty & Crumrine Total Return Fund is a fixed income closed-end fund. The CEF focuses on financials preferred equity, and is down roughly -10% year to date, while the unleveraged fund PFF is flat on the year.
FLC Financial details
FLC Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2023-11-30
Metric | History | 2019-11-30 | 2020-11-30 | 2021-11-30 | 2022-11-30 | 2023-11-30 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 4.09 | 1.82 | 1.83 | -3.44 | 0.28 | |
Net income per share | 4 | 1.74 | 1.74 | -3.52 | 0.2 | |
Operating cash flow per share | 1.34 | 1.39 | -0.36 | 1.33 | 1.1 | |
Free cash flow per share | 1.34 | 1.39 | -0.36 | 1.33 | 1.1 | |
Cash per share | 0.04 | 0.02 | 0.03 | 0.3 | 1.34 | |
Book value per share | 21.72 | 22.02 | 23.03 | 17.25 | 16.35 | |
Tangible book value per share | 21.72 | 22.02 | 23.03 | 17.25 | 16.35 | |
Share holders equity per share | 21.72 | 22.02 | 23.03 | 17.25 | 16.35 | |
Interest debt per share | 11.16 | 10.96 | 11.94 | 11.6 | 12.02 | |
Market cap | 220.46M | 231.4M | 226.49M | 168.98M | 148.42M | |
Enterprise value | 328.36M | 339.3M | 344.99M | 284.31M | 252.89M | |
P/E ratio | 5.52 | 13.3 | 13 | -4.6 | 70.47 | |
Price to sales ratio | 5.4 | 12.68 | 12.36 | -4.71 | 50.63 | |
POCF ratio | 16.49 | 16.62 | -62.95 | 12.19 | 12.96 | |
PFCF ratio | 16.49 | 16.62 | -62.95 | 12.19 | 12.96 | |
P/B Ratio | 1.02 | 1.05 | 0.98 | 0.94 | 0.87 | |
PTB ratio | 1.02 | 1.05 | 0.98 | 0.94 | 0.87 | |
EV to sales | 8.05 | 18.6 | 18.83 | -7.92 | 86.28 | |
Enterprise value over EBITDA | 8.23 | 19.5 | 19.8 | -8.33 | 120.08 | |
EV to operating cash flow | 24.56 | 24.38 | -95.89 | 20.5 | 22.08 | |
EV to free cash flow | 24.56 | 24.38 | -95.89 | 20.5 | 22.08 | |
Earnings yield | 0.18 | 0.08 | 0.08 | -0.22 | 0.01 | |
Free cash flow yield | 0.06 | 0.06 | -0.02 | 0.08 | 0.08 | |
Debt to equity | 0.5 | 0.49 | 0.51 | 0.66 | 0.69 | |
Debt to assets | 0.33 | 0.33 | 0.34 | 0.4 | 0.41 | |
Net debt to EBITDA | 2.7 | 6.2 | 6.8 | -3.38 | 49.61 | |
Current ratio | 9.09 | 15.42 | 15.93 | 6.27 | 4.34 | |
Interest coverage | 11.75 | 10.54 | 16.81 | -13.05 | 0.3 | |
Income quality | 0.33 | 0.8 | -0.21 | -0.38 | 5.44 | |
Dividend Yield | 0.06 | 0.06 | 0.06 | 0.09 | 0.08 | |
Payout ratio | 0.33 | 0.8 | 0.84 | -0.39 | 5.44 | |
Sales general and administrative to revenue | 0.02 | 0.04 | 0.04 | -0.02 | 0.27 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 44.23 | 29.36 | 30.03 | 36.96 | 8.62 | |
ROIC | 0.08 | 0.01 | 0.01 | -0.17 | -0.03 | |
Return on tangible assets | 0.12 | 0.05 | 0.05 | -0.12 | 0.01 | |
Graham Net | -10.61 | -10.59 | -11.63 | -10.89 | -9.89 | |
Working capital | 2.74M | 2.85M | 2.89M | 2.73M | 2.31M | |
Tangible asset value | 216.72M | 220.19M | 230.61M | 180.03M | 170.69M | |
Net current asset value | -105.44M | -105.33M | -115.9M | -116.04M | -116.45M | |
Invested capital | 0.5 | 0.49 | 0.51 | 0.66 | 0.69 | |
Average receivables | 3.18M | 3.06M | 3.06M | 3.16M | 3.13M | |
Average payables | 702.84K | 268.11K | 195.53K | 355.53K | 604.66K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 27.57 | 60.87 | 61.48 | -33 | 374.37 | |
Days payables outstanding | 55.59 | 32.38 | 29.48 | 83.82 | 121.84 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 13.24 | 6 | 5.94 | -11.06 | 0.97 | |
Payables turnover | 6.57 | 11.27 | 12.38 | 4.35 | 3 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | 0.18 | 0.08 | 0.08 | -0.2 | 0.01 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2023-11-30 for Q4
Metric | History | 2022-11-30 | 2023-02-28 | 2023-05-31 | 2023-08-31 | 2023-11-30 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 1.1 | 0.48 | 0.48 | 0.48 | 0.77 | |
Net income per share | -1.07 | -0.4 | -0.8 | 0.5 | 1 | |
Operating cash flow per share | 0.68 | 0.29 | 0.59 | 0.26 | 0.52 | |
Free cash flow per share | 0.68 | 0.29 | 0.59 | 0.26 | 0.52 | |
Cash per share | 0.3 | 0 | 0.95 | 0 | 1.34 | |
Book value per share | 17.22 | 15.83 | 15.83 | 16.32 | 16.32 | |
Tangible book value per share | 17.22 | 15.83 | 15.83 | 16.32 | 16.32 | |
Share holders equity per share | 17.22 | 15.83 | 15.83 | 16.32 | 16.32 | |
Interest debt per share | 11.52 | 11.33 | 11.64 | 11.33 | 11.69 | |
Market cap | 169.3M | 174.32M | 150.37M | 149.01M | 148.7M | |
Enterprise value | 284.63M | 174.32M | 268.87M | 149.01M | 253.17M | |
P/E ratio | -3.79 | -10.39 | -4.48 | 7.1 | 3.54 | |
Price to sales ratio | 14.69 | 34.8 | 29.77 | 29.45 | 18.54 | |
POCF ratio | 23.81 | 57.09 | 24.22 | 55.77 | 27.26 | |
PFCF ratio | 23.81 | 57.09 | 24.22 | 55.77 | 27.26 | |
P/B Ratio | 0.94 | 1.05 | 0.91 | 0.87 | 0.87 | |
PTB ratio | 0.94 | 1.05 | 0.91 | 0.87 | 0.87 | |
EV to sales | 24.7 | 34.8 | 53.23 | 29.45 | 31.57 | |
Enterprise value over EBITDA | -30.9 | -20.3 | -52.32 | 190.15 | 17.84 | |
EV to operating cash flow | 40.03 | 57.09 | 43.3 | 55.77 | 46.42 | |
EV to free cash flow | 40.03 | 57.09 | 43.3 | 55.77 | 46.42 | |
Earnings yield | -0.07 | -0.02 | -0.06 | 0.04 | 0.07 | |
Free cash flow yield | 0.04 | 0.02 | 0.04 | 0.02 | 0.04 | |
Debt to equity | 0.66 | 0.72 | 0.72 | 0.69 | 0.69 | |
Debt to assets | 0.4 | 0.42 | 0.42 | 0.41 | 0.41 | |
Net debt to EBITDA | -12.52 | 0 | -23.06 | 0 | 7.36 | |
Current ratio | 6.27 | 3.45 | 4.44 | 3.33 | 4.34 | |
Interest coverage | -4.71 | 0 | -1.58 | 0 | 3.84 | |
Income quality | -0.64 | -0.73 | -0.74 | 0.51 | 0.52 | |
Dividend Yield | 0.04 | 0.02 | 0.04 | 0.02 | 0.04 | |
Payout ratio | -0.61 | -0.73 | -0.73 | 0.51 | 0.51 | |
Sales general and administrative to revenue | 0.05 | 0.12 | 0.12 | 0.11 | 0.07 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 20.34 | 11.95 | 16.91 | 13.58 | 19.2 | |
ROIC | -0.04 | -0.02 | -0.03 | 0.01 | 0.03 | |
Return on tangible assets | -0.04 | -0.01 | -0.03 | 0.02 | 0.04 | |
Graham Net | -10.87 | -11.2 | -10.26 | -11.21 | -9.87 | |
Working capital | 2.73M | 2.2M | 2.31M | 2.22M | 2.31M | |
Tangible asset value | 180.03M | 165.55M | 165.55M | 170.69M | 170.69M | |
Net current asset value | -116.04M | -116.3M | -116.41M | -116.28M | -116.45M | |
Invested capital | 0.66 | 0.72 | 0.72 | 0.69 | 0.69 | |
Average receivables | 3.24M | 3.11M | 2.99M | 3M | 3.01M | |
Average payables | 258.65K | 258.65K | 336.13K | 336.13K | 346.01K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 25.34 | 53.63 | 53.19 | 53.47 | 33.74 | |
Days payables outstanding | 43.18 | 0 | 57.18 | 0 | 61.37 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 3.55 | 1.68 | 1.69 | 1.68 | 2.67 | |
Payables turnover | 2.08 | 0 | 1.57 | 0 | 1.47 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | -0.06 | -0.03 | -0.05 | 0.03 | 0.06 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
FLC Frequently Asked Questions
What is Flaherty & Crumrine Total Return Fund Inc. stock symbol ?
Flaherty & Crumrine Total Return Fund Inc. is a US stock , located in Pasadena of Ca and trading under the symbol FLC
What is Flaherty & Crumrine Total Return Fund Inc. stock quote today ?
Flaherty & Crumrine Total Return Fund Inc. stock price is $15.4 today.
Is Flaherty & Crumrine Total Return Fund Inc. stock public?
Yes, Flaherty & Crumrine Total Return Fund Inc. is a publicly traded company.